Fixed costs are costs that vary in total within the relevant range as the level of output increases or decreases.

Name: Fixed costs are costs that vary in total within the relevant range as the level of output increases or decreases.
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Question

Quizplus · Accepted Answer

Fixed costs do not vary within the relevant range as the level of output increases or decreases. They remain constant, regardless of the level of production or sales. Examples of fixed costs include rent, salaries, and insurance premiums.

Fixed Costs Are Costs That Vary in Total Within the Relevant